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Central Rand Share Discussion Threads
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|I was checking the water levels to see what the volume extracted was at about 137 to get to 142(ish) originally. Unfortunately that data is not very clear at the beginning of 2016. The plant can process at maximum levels 3,400m³/h per day.
TCTA do the pumping, not CRND, so I doubt they would be messing with someone elses data. The fast rise in water level would be due either to a problem with the pumps/plant (which we are not able to tell from the data provided) or from flash flooding during the rainy season. What is not explained is the fall in water level as I do not believe when the same levels were reached last time, the maximum volume did not drop the water level as fast as it is now, which means either the amount pumped is wrong, or volume is being removed from somewhere other than the plant. I have not heard of any overspill but there are no tunnels or aqueducts linking to the other basins - so where has the water gone?
I have not had a chance to properly compare the volumes but answers would be appreciated.|
|I suppose they dont have an AGM in south africa or we could ask them some awkward questions|
I agree the BOD of CRND aren't being very open & appear to be very flexible with the truth. They didn't ever bother to notify sharholders of the initial tranche of Chinese loans being received until after they were spent....
I'd be surprised if the TCTA data isn't accurate (unlees they have an elastic tape measure...), but what I would like to know if why the water level is dropping as quickly as it rose during the peak of rainy season with higher than average rainfall (-8.5M in the first 16 days of Jan)??? When in dry season the water level has only been falling approx 1M / month. Has someone pulled out the plug???|
|winston...the TCTA data appears on central rands website so how do we know its not being fiddled with? afterall they stopped posting the figures for a few weeks and then when they did post them there was a dramatic rise in the water level so obviously crnd arent being very truthful withholding info like this|
The income from processing the third party's ore is not known, is all that has been confirmed is how many tonnes of ore have been delivered initially & how much they are processing per month now. We don't know the terms of the processing deal, I expect CRND are getting a fee per tonne or a percentage from the gold recovered. We have no idea of the level turnover or any profit this processing deal is generating.
The water level data is supplied by TCTA, it's nothing to do with CRND. But I do agree that the water level is jumping all over the place, on the plus side it's now heading in the right direction again. Once we are through Jan, the worst should be out the way for a other year and average monthly rainfall should start to talling off again.|
|All smoke and mirrors. This lot have had to lie so often that they are incapable of telling the truth. If there was any substantive evidence that this company could ever be commercially viable, the share price would be multiples of where it is now. All CRND shareholders can look forward to is further dilution from Bergen dumping new issue shares into the market.|
|Good luck mate. We can only surmise about Mr. Wang based on the scant detail from the company. Seemingly they have already spent 500k of Wang's wonga that they didn't tell us about getting last June, and since that time all that's happened is Bergen continually dumping newly issued shares and the water levels, all of a sudden, back up to where they were a year ago.|
|Badger, while I agree that this share is not going anywhere until Puno is sorted out, the income from the tailings etc is known (and whether the concentrator does anything for us) and an improvement is made on the dewatering - why has Mr Wang alrady invested half a million or more?
I initially thought that the government dewatering program for the basins would help us but they are not interconnected which means the existing plant that has not got us to the required depth during a drought and may have been turned off for a few weeks during the rainy season is all we have to rely on. Knowing this Mr Wang still invests a 6 figure sum.
I am looking to find any geology reports that can give us an idea of the characteristics and shape of the Central Basin so we can identify the volumes required to get back to our target depth. The same volume will result in a faster decrease in water level if there is less soil and more rock at a certain depth. I am hoping to see that it will be possible for the mine to be dewatered and the level maintained given the past performance of the pumps and annual decant.
I believe that will be the eventual deciding factor of whether CRND can make a success of this mine and am waiting to hear what other projects they intend to bring online.|
|They are messing with your heads re Mr. Wang, $4 mio etc. This is a waterlogged hole in the ground which they continue to convince mugs to throw money into......If this hole was located in a field near your house with a bloke knocking on your door asking for money.......would you give it?|
|One hundred percent correct Winston. It's not just the shareprice either. Dilution is big factor here. Last year when the $150m sale was being anticipated there were only 60m shares in issue. When that fell through that increased to 108m. Now were double that. All the time shareholders are being diluted with less value. And to be quite honest I don't see that changing.|
|Told ya...... Yet another Bergen share dump. When will you learn that this will continue ad infinitum while you continue to get sucked in. This company is years away, if ever, from making any meaningful revenue. In the meantime Bergen are happy to take their cut and the CRND directors, their wages........|
|I wouldn't rule out a closed book. that's why bergen equity issues may be the only opportunity for PI's to get stock at or near similar levels to the placement IMO.|
|Dusseldorf, you may well be right. If that's the case PI's need to be inculded so any fund raising is fair & PI's also have the option of bringing down their averages etc.|
|winston270 - the new Nomad and fact there are various convertible loans etc.. outstanding points to one thing, a circa (IMO) £7.5-£10m equity issue at price 'X'. What price X is I'm not sure, but it just makes sense to do it.|
|CRND should have been earning revenue since July/Aug 2016 for the processing of the third party ore via Mill 3. But we've never had any numbers or finer details of the agreement to work out how much turnover/profit it may/may be generating.
On the plus side, at least not all the money is being fritted away to cover losses. At least some of the money from the Bergen share issues & Chinese loans is being used to refurb Mill 1 (Commission Nov 2016) & buy an Concentrator Circuit, which all adds to CRND's asset base, whilst allowing them to build an alternative source of income whilst we wait for the water level to be reduced/Gold Prices to rise to allow underground mining to re-commence. The main question mark at present is whether this processing facility that is being created & expanded will ever be profitable enough to re-build cash reserves & pay back the various loans?|
|this share was priced to go bust..it aint going bust so 5p fair value|
|I bought some @ 1.10p after the news, as Gold price has been breaking $1200 with a $10.4 rise to $1201.9 this morning.
Central Rand Gold Limited Convertible Security with Bergen
The Board of Directors of Central Rand Gold ("the Board") is pleased to announce that the Company has agreed to issue a zero coupon convertible security with the nominal value of US$240,000 (at the purchase price of US$200,000) ...|
|Maybe the grades will look better after they've been put through the concentrator circuit? I know this was pretty successful when being tested initially, but we haven't heard about the live trials. I guess if they are buying it, there must be merit in having it.|
|At least its something.
Shame the grades weren't a bit higher.|
|There you go, change of NOMAD as I reported.
I shouldn't know these things before they are reported, and I wouldn't but for some inept employee at the company who now happens to be CEO.
When a company is run by cretins experience tells me to seriously rethink my position.
Also, ask yourself why the change of NOMAD?
You should be hearing alarm bells.
Anyways, I've took my medicine and I'm out at a loss and that's fine with me.
Best of luck to all those still in.|
|A nice little P&D with the share price now sliding back towards 1p. We eagerly await the next Bergen share dump.......|